Into the Red

"The book makes an important contribution to literature on globalization and the impact of the market economy. Her analysis of consumers, banks and credit agencies is made even more significant in light of the way in which unmanageable debt appears so closely linked to the current global economic collapse." - Michael P. Sacks, International Review of Modern Sociology "Guseva's clear and accessible account of the Russian experience, based on both written sources and semi-structured interviews that she conducted in Moscow between 1998 and 2005, should hold great appeal. Other readers will likely enjoy the book for the historical perspective and organizational insights it provides into the financial instrument whose use is so widespread - and whose function so central - in economies like that of the U.S. that its existence is simply taken for granted." - Bennet A. Zelner, Duke University "Guseva's excellent study of the credit card market in Russia reaffirms the argument against the free market approach to changes taking place in Russia. Markets are not established as a result of announcements, but rather as a process requiring the co-development of necessary institutions, Guseva reminds the reader. ... The clear, persuasive writing style entails some prior knowledge of economic sociology." - CHOICE "Alya Guseva proves herself as a serious scholar matching intellectual depth with careful detail. Analysis of market creation and institutional emergence demands the fieldwork and creativity that few like Guseva displays. Into the Red will make a significant contribution to institutional change and market creation in general, in emerging markets, and, especially, in postcommunist countries." - Gerald McDermott, Wharton School, University of Pennsylvania "Alya Guseva's excellent book Into the Red represents the first full-length scholarly analysis of postcommunist credit card markets. Drawing on unique and extensive field research in Russia, Guseva convincingly demonstrates why the Russian credit card market has evolved so differently from that of the United States and other capitalist economies. I highly recommend it for anyone interested in gaining a deeper understanding of contemporary postcommunist financial systems." - Juliet Johnson, McGill University